Caricom Secretary-General Ambassador Irwin LaRocque on Friday evening stressed the need for Guyana and other Caricom member states to invest in renewable energy.
This, he said, was needed to lower the cost of production, which would ultimately bring down the price of goods for consumers.
“A major cost driver for the business community and society, as a whole, is energy… the high cost of energy adversely affects competitiveness,” LaRocque said, during his feature address at the Guyana Manufacturing and Services Association (GMSA) 19th annual awards dinner. The event was held at the Princess Hotel, at Providence and saw high attendance from businessmen and women across Guyana.
LaRocque explained that across the region the average cost for energy was more than 30 US cents per kWh, which is among the highest in the world, and that the benchmark should be no more than 10 US cents. He made his point about high energy costs as he made reference to an Inter-American Development Bank (IDB) study conducted in the region. The Caricom Ambassador said that the high cost is driven by the heavy reliance on imported fuel, which is estimated at 10 to 15 percent of the total Gross Domestic Product (GDP) of the region.
LaRocque informed that Caricom has developed an energy policy that emphasises energy efficiency and the development of renewable energy alternatives, for both domestic use and export. He said that the region holds the potential to make this a reality, while pointing out that in Guyana alone the hydro-energy potential was high and that this complemented with other Caricom countries’ geothermal, solar and other alternative energy capacities could work well for the region.
“Investment in renewables will reduce the cost of energy to consumers. It will also free up much needed foreign exchange and create opportunities for export of various items,” he stated.
The high cost of energy and its effects on businesses and manufacturers was also highlighted by GMSA President Clinton Williams, who pledged the organisation’s continued support for the stalled Amaila Falls Hydropower Project. According to him, this project currently offers the best solution.
“It is common knowledge that business owners have to contend with unreliable and high costs for electrical power both from the national grid and from self-owned generators,” Williams stated.
“In the absence of any other viable alternative to renewable, cheaper energy, we continue to support the proposal for the Amaila Falls Hydropower Project, which we currently feel offers the best soloution,” he added.
Notwithstanding the call for alternative energy sources, Williams urged the business community to better conserve and manage their current energy supplies.
Making reference to the GMSA/IDB energy efficiency project, which concluded in the second quarter, Williams said that his organisation will continue to implore government to offer incentives to producers of energy alternatives. This, he added, would enable them to raise their operations from a subsistence level and enable them to assume the role of independent power producers.
He also said that the business community was anxiously awaiting the full implementation of the Single Window Automated Processing System (SWAPS) at the Guyana Revenue Authority (GRA), as exporters complain of time consuming trade transaction costs.
Williams also lauded the new Massy facility, which was recently commissioned at Montrose, East Coast Demerara, saying that the venture brought to the fore the need for additional projects of that nature. This is so because additional warehousing facilities will impact positively on the movement of goods and capital from points of production to ports, he noted.
Turning to Guyana’s current political situation, Williams stressed that the GMSA fully supports the call for “continued dialogue among parliamentary parties during and after the current prorogation of the 10th Parliament.”
Awardees
Meanwhile, Williams was among the awardees during the night as he was honoured with a lifetime achievement award for long and dedicated service to the public and private sectors.
Dr. Komal Dookie also received an award for his contributions to national development by utilising his superior business acumen to create awareness of Guyana’s unexplored natural resources.
Edward B. Beharry Group of Companies copped the award for leading local industries in the introduction of new and innovative technologies and methodologies towards greater energy efficiency and conservation.
Gafson Industries Inc., home to the Gafoor’s complex, won an award for continuously providing the building and construction sector with a wide range of locally manufactured products, and for consistently expanding its product line.
- Bassoo and Sons also received an award for 22 years of exceptional service to the public and private sectors, and its contribution to the building and construction sector as well.
A lifetime achievement award was bestowed on Modern Industries Ltd in recognition of the company’s determined leadership in furniture manufacturing and its unstinting support to the GMSA.
Twins Manufacturing Chemists won an award for consistently widening its medicinal product line, especially the Tussadryl family, and for expanding its market reach into the Caribbean and North America. National Hardware Ltd was awarded for consistent growth and for its valuable contribution to the building and construction sector.
Superior Shingles Wood Products was recognised for its continuous penetration of new foreign markets.
The Pomeroon Oil Mill received an award for its growth in the domestic market through innovative packaging and labeling and its diversification into fast food production.
Sterling Products Ltd was awarded for being a superior corporate citizen by providing free technical support to Micro, Small and Medium Enterprises (MSMEs) to lift their production capacities from subsistence level to export readiness.
Local beverage giant Banks DIH Ltd was also award in recognition of its attaining international Quality Certification for every plant and for aggressive market penetration of its new GT Beer. The Trinidad Cement Limited (TCL) Guyana Inc. received an award for achieving ISO 14001 Certification, which validates the effectiveness of its environmental management systems.
Rising from a small family initiative to a booming winery, the Pandama Retreat and Winery was announced as the winner of the Empretec award. This was for its utilisation of local fruit, herbs and barks to produce exotic wines, tonics and natural vinegars, and expanding its market reach into North America and Europe.
Environmental Management Consultants copped the award for successfully responding to a critical need for dedicated environmental management services, in keeping with EPA requirements and the tenets of the LCDS. The Think Engine Company collected an award in recognition of its efforts to promote the development of SMEs.
Lallman Budhu, who earned a standing ovation, was also recognised with an award for the long and dedicated administrative services he has given to the GMSA.
